Skill acquisition, credit constraints, and trade
نویسندگان
چکیده
منابع مشابه
Skill Acquisition, Credit Constraints, and Trade
This paper looks at the e¤ect of credit constraints on skill acquisition when agents have heterogeneous abilities and wealth. We use a general equilibrium model and assume credit markets are absent. Two payment systems for training are explored. Under the rst, payment is made up front and as a result, credit constraints are severe. In the second, a form of work study is allowed, and this helps...
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This paper investigates how the supplier’s bargaining power affects trade credit supply. We use a novel firm-level database of Chinese firms with unique information on the amount, terms, and payment history of trade credit extended to customers and detailed information on product market structure and clients-supplier relationships. We document that suppliers with weak bargaining power towards t...
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Firms depend heavily on trade credit. In the years 1980-2004 about 60% of all inputs to production were purchased with a delayed payment. This paper provides evidence that trade credit connection plays signi cant role in the growth stability of customers by reducing the propagation of rm-level shocks from suppliers onto their customers. On average, customer experiences about 20% lower disruptio...
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This paper examines how competition among suppliers affects their willingness to provide trade credit financing. Trade credit extended by a supplier to a cash constrained retailer allows the latter to increase cash purchases from its other suppliers, leading to a free rider problem. A supplier that represents a smaller share of the retailer’s purchases internalizes a smaller part of the benefit...
متن کاملTrade Credit Contracts
We employ a novel data set on almost 30,000 trade credit contracts to describe the broad characteristics of the parties that contract together and the key terms of these contracts. Whereas prior work has typically used information on only one side of the buyer-seller transaction, we utilize information on both, allowing for the first analysis of buyer-seller pairs. An equally important distinct...
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ژورنال
عنوان ژورنال: International Review of Economics & Finance
سال: 2009
ISSN: 1059-0560
DOI: 10.1016/j.iref.2008.06.005